Eurozone Industrial Output Falls the Most in 6 Months
Industrial production in the Euro Area slumped 2.6 percent from a year earlier in June 2019, following a 0.8 percent decline in the previous month and compared with market expectations of a 1.2 percent fall. It was the steepest downturn in industrial activity since December, driven by capital and intermediate goods.
Production shrank for capital goods (-4.4 percent vs -1.8 percent in May); intermediate goods (-2.6 percent vs -2.4 percent); durable consumer goods (-1 percent vs 0.1 percent) and energy (-0.1 percent vs 0.4 percent). Also, output growth slowed sharply for non-durables (0.1 percent vs 3.4 percent).
Among Eurozone's largest economies, Germany's industrial output contracted the most (-6.2 percent vs -5.0 percent), followed by France (-0.4 percent vs 3.7 percent) and Italy (-1.2 percent vs -0.6 percent). Meanwhile, output growth was seen in Spain (1.5 percent vs 1.3 percent).
In the EU28, industrial activity fell 1.9 percent (vs 0.1 percent in May), amid declines in capital goods (-3.7 percent vs -0.8 percent); intermediate goods (-2 percent vs -1.3 percent) and durable consumer goods (-0.5 percent vs 1.0 percent). Also, output slowed for energy (0.6 percent vs 1.3 percent) and non-durable consumer goods (0.2 percent vs 3.0 percent).
8/14/2019 9:34:55 AM